Cannabis Producer Vext Reports YoY Decline In Q1, Announces $2M Standby Credit Facility Ahead Of Ohio Rec Market Launch
Portfolio Pulse from Jelena Martinovic
Vext Science, Inc. reported a year-over-year decline in Q1 2024 revenue and net income, but announced a $2 million standby credit facility to support its expansion in Ohio's upcoming recreational marijuana market. Despite the decline, Vext's shares rose 5.08% after the market close.
May 29, 2024 | 1:34 pm
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Vext Science reported a decline in Q1 2024 revenue and net income but secured a $2 million standby credit facility to support its Ohio expansion. Shares rose 5.08% after the market close.
The announcement of the $2 million standby credit facility provides Vext with financial flexibility to capitalize on the upcoming Ohio recreational marijuana market, which is seen as a significant growth opportunity. This positive outlook likely contributed to the 5.08% rise in share price.
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